In 2003/04 prices of malting barley around the world were driven up by the huge demand for feed grains, malt industry analysts revealed. Crops of 2004 will produce enough maize and feed wheat to cut down the use of feed barley to traditional levels. One must not forget, though, that EU barley costs about US $ 125 FOB at present exchange rates and world markets will have to do without EU barley supplies, as long as prices are below the a.m. level or as long as the EU does not grant export restitutions.

11 August, 2004